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Holding money to take care of contingencies is

Economics
JAMB 2022

Holding money to take care of contingencies is

  • A. a speculative motive
  • B. a transactions motive
  • C. a precautionary motive
  • D. an expansionary motive
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Correct Answer: Option C
Explanation

A precautionary motive is when people hold money to meet unforseen contingencies or circumstances e.g accident, sickness etc. It varies inversely with the level of income.

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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
WAEC and NECO CBT Software for Computers and Laptops - Candidates, Schools, Centres, Resellers - 100% Offline -Download Now
WAEC and NECO CBT App for Mobile Devices - Candidates, Schools, Centres, Resellers - 100% Offline -Download Now